TOP 10 GOLDEN TRADING TIPS

[doctor877]

1. Never borrow money to trade or trade with money you can't afford to lose.

2. Always research your own coin.

3. Be patient when trading and don't jump from one trade to another.

4. Try to avoid low Satoshi coin except for those that have a high percentage but undervalued.

5. Watch a newly listed coin for price stability before you start trading it.

6. Know when and how to exit your trades , don't be too greedy but be satisfied with your profit.

7. Trading everyday is not compulsory. You only need to trade when the set up is right and the condition are fulfilled.

8. Always check for news and stay updated but don't jump at it.

9. Don't FOMO to trade a coin that has already gone 50% above.

10. Focus on self development, avoid paid groups and signal calls. They do more harm than good.

I believe this tips will help someone to take the right steps and change their approach towards trading. Feel free to add any point that could be of help. Thank you.

[tycsols]

If someone is new and is passionate about trading then he should first get all the knowledge related to trading alongwith how to read the charts and candlestick patterns and draw trend lines and breakout patterns and then finally learn to trade either with very small funds or with demo funds for few months before starting their trading career because most people make loss while trading the market so it is risky and all new people should know that before starting.

[serjent05]

There is another one, don't trade while your drunk.  Trading while your drunk may affect your decision making.  Or may cause you to have a "fat" finger.

And another one, don't trade when you're too emotional.  The same thing, emotion often intervene with our rationality.  This might be futile.

[sana54210]

These seem like modified trading tips with respect to crypto trading. There could be at least 100 more golden tips available even in this forum because to trade profitably we must need lots of aspects to be considered and strictly followed. When we miss some of them then losses become inevitable. I am a crypto trader and I learned most of tips you have mentioned on my own which means I have paid some fee for almost all the tips to learn out of my own experiences.

Crypto trading probably do not need all the above tips if it is planned on highly reputed coins like bitcoins and etehreum for long term targets. Yes, most tips are necessary only if you look for catching short term fluctuations. I am sure for a long term trader there would be no need of any big number of tips as they are not actively doing anything. This is the reason many people never agree that long term holding as type of trading .

[Deeshawn]

Thanks for sharing this, I will love to become a trader in the nearest future as am currently working on myself, am done writing down this tips, so as to keep using them when I finally started trading. This post will also be of great help to other newbies planing to become a professional trader.

[StephenJH]

Trading tips are there for new traders but professional traders are called professional because they know when and where to break the red lines aka trading tips. Borrowing money is always a risky decision but think it like an alternative version of leverage but without margin call

[retnoanjani]

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6. Know when and how to exit your trades , don't be too greedy but be satisfied with your profit.
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A good trader knows to choose the right coins at the right time. To be able to do that requires seriousness, extensive knowledge, and confidence in analyzing the market. Knowing the fundamental factors that support, then do technical analysis to determine the right timing, the minimum limit of good entry, stop loss, and take profit. See? trading is not like gambling that only relies on luck. But it really requires skill and seriousness. If we don't prepare this well then we won't get the right timing.

[DarkDays]

Good tips here, I'd also like to add;

1. Use a stop loss EVERY time. No matter how bullish you think the market is, there is always a chance that it could collapse. So stay safe.
2. Don't invest on platforms with low liquidity, even if they do offer markets that are not available anywhere else. The odds of getting rekt by scam wicks is high.
3. Stay away from leverage and margin trading until you really understand the market, and even then keep it as low as possible.

[jrrsparkles]

Recently I read an interesting fact about day traders and normal traders. Day traders claims that they are making atleast 1% returns at the end of the day but if this is true then day traders could be more rich than Warren Buffett but its not how the things really works,we esrn but we lose as well in day trading so don't jump in too quickly into day trading because even experienced traders can go bankrupt.So choose the safe trading method and pairs.

[Yudhisthir]

You just spoke my mind and presented it in a better way than I could. I have similar conclusion with my long term trading experience.
Any new traders should seriously take these tips in consideration. And specially you should not rush into a trade decision consulting just one source.
At least try to verify the remarks and cross check it on different platforms as well this forum. Anything that seems to be too good to be true are mostly scam in the making.

[batang_bitcoin]

Thank you for those tips and they are actually helpful. The #6 is where most of the people are having difficulty in deciding.
When you have had enough already and it's a profit, don't be too greedy of hoping to have more of it. That's where the disaster starts, you'll get to want more of profit but instead of it, the opposite happens and the profit you made will start to get down and you'll eventually lose it because you didn't sell.

[joshua123]

I believe this tips will help someone to take the right steps and change their approach towards trading. Feel free to add any point that could be of help. Thank you.

These are nice tips. You forgot to mention that invest money only you can afford to lose which is highly known statement for trading. Many of what you said are true, especially on fomo but even its not 50% we must not ride with this as the tendency of the whales is to crash those who love to buy late. You will suddenly get shock to see that the price is easily going down. Learn to read market is also good advise but this sometime is not effective when whales are busy playing over with the bulk orders.

[bakasabo]

I would suggest never to buy or sell at once 100% of altcoin you are holding. Sell or buy in batches. It is hard to predict where the price goes next second. So instead of doing a trade for 100% of your holding, make a move and wait a bit. The price could change in a more profitable direction. This will save trader from pump and dumps.

[minairia3]

For normal spot trading determining where to buy low and sell high these are ideals. But if you are gonna experience an advance trading like futures and margin these suggestions would not help you at all.

Leverage trading is far from begginers luck and money is really staked high and very risky. The best advice I could impart is study hard the technical aspect of marlet movement, have some knoweldge on indicator, which one to use at particular time, and of course how to manage yoirself from greediness when profit is hit.

[clickerz]

There is another one, don't trade while your drunk.  Trading while your drunk may affect your decision making.  Or may cause you to have a "fat" finger.

And another one, don't trade when you're too emotional.  The same thing, emotion often intervene with our rationality.  This might be futile.

I agree not to trade if you are too happy or sad Emotions affects decision making that will lead to an unfavorable decision later on. Better also to allot time to study trading, this will help a lot.

[Karartma1]

9. Don't FOMO to trade a coin that has already gone 50% above.

Even 15%/day is already too much. If that's the case, combined with previous low volumes, then it's P&D for sure.
Good list but I wonder how many will apply these very logical tips.

[homhay]

when the crypto market is not stable as it is today we are required to be very patient because it is the main capital to get greater profits in cryptocurrency investments.

[covfefe_]

when the crypto market is not stable as it is today we are required to be very patient because it is the main capital to get greater profits in cryptocurrency investments.

Non stable market is a good time for traders to make a profit but for that you should plan ahead rather than making quick decisions.
Utilize the stability of stable coins if you want to play safe while making money. The so called pump signal groups are all scam which makes profit from it's own paying members.

[Ifemini]

1. Never borrow money to trade or trade with money you can't afford to lose.

2. Always research your own coin.

3. Be patient when trading and don't jump from one trade to another.

4. Try to avoid low Satoshi coin except for those that have a high percentage but undervalued.

5. Watch a newly listed coin for price stability before you start trading it.

6. Know when and how to exit your trades , don't be too greedy but be satisfied with your profit.

7. Trading everyday is not compulsory. You only need to trade when the set up is right and the condition are fulfilled.

8. Always check for news and stay updated but don't jump at it.

9. Don't FOMO to trade a coin that has already gone 50% above.

10. Focus on self development, avoid paid groups and signal calls. They do more harm than good.

I believe this tips will help someone to take the right steps and change their approach towards trading. Feel free to add any point that could be of help. Thank you.

You have highlighted thoroughly the basics of  crypto currency trading.
Dear peeps, newbies or professionals, you need to understand that as easy as this list are, it is not easy.

You need to dedicate time and learn thoroughly the basics of crypto currency so that you can duly follow this suggestions.

I am adding one more.

11. Never borrow money, or capital to start trading crypto currency, it leaves you imbalanced and tense.
Instead, start with a capital you can afford to lose

[maxreish]

The number one rule is highly advice not to do it. Borrowing money and taking the risk of losing it is not really a good idea.
 
 Let me add;
 *Build trading knowledge
 *Set stop loss in every trade
 *Do not always follow the hype
 
 If we want to become a good trader, we specifically determine and disregard those things that can be a barrier in our trades.